van Beurden: Merger in early 2016, following Chinese approval
Royal Dutch Shell announced on Monday that its recommended combination with BG Group has received unconditional clearance from the Chinese Ministry of Commerce.
'Following previously announced approvals in Brazil, the EU and Australia, MOFCOM clearance marks the final pre-conditional approval required for the combination' the company wrote in a statement.
The Australian Competition and Consumer Commission gave unconditional clearance in mid-November.
"This is a strategic deal that will make Shell a more profitable and resilient company in a world where oil and gas prices could remain lower for some time. We will now seek approval from both sets of shareholders as we move towards deal completion in early 2016," Shell CEO Ben van Beurden commented.